Quote:
Originally Posted by 1andrew1
My pleasure.  I always like to take an evidence-based approach rather than a Project Original Fear one. If Chris proves me wrong I'm happy to have learnt something.  |
Not meaning to sidestep the question but it has been addressed at length in the Eurozone Colapse thread, many times over.
In essence, without a system of federal tax and redistribution, the Eurozone will always inevitably end up in the situation it is now in, with countries like Greece, Italy and Ireland coming perilously close to bankruptcy while massive amounts of currency accumulate in more efficient states like Germany. Bailouts have followed protracted negotiation and brinkmanship whereas in a properly functioning diverse currency zone, such as the USA, it is automatic.